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The French company Alcatel has strengthened its position in the US market by announcing the acquisition of Genesys Telecommunications. Alcatel is paying $1.5 billion for the San Francisco-based company that specializes in developing software for call centres. Genesys had revenues of only $140 million in the 12 months up to June this year, and many analysts believe that the deal has been overpriced. Alcatel argue that Genesys is a safe investment within a fast-moving industry, though its earnings are expected to fall next year.

WTO upholds FSC complaint

Loyens loses team to Freshfields

The June 1997 and June 1998 issues of International Tax Review, reported on the position of the German tax authorities regarding the amortization of purchased trademarks and purchased licences for the sale of medications (Arzneimittelzulassungen).

Danish businesses are up in arms following a draft budget that not only failed to announce a corporate tax cut, but also proposed a significant rise in environmental taxes.

The IRS has asked the tax court for a delay in the planned disclosure of APAs. But the plaintiffs in the case have objected. Oliver Ralph reports

Donahue & Partner, the Canadian member firm of Ernst & Young International, has recruited tax litigators Al Meghji and Roger Taylor. The move reunites the two, who worked together at the Canadian department of justice for many years.

It's been a strange old month for Peter Mendham.

Scottish & Newcastle, the UK's largest brewer, has bought 50% of the Greenalls leisure group.

Sun Life and Provincial Holdings has been consulting Slaughter and May over the disposal of its Guardian Royal Exchange UK life, pensions and trust businesses.